Milpitas Real Estate Market Update 05-24-2018

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VIDEO OUTLINE
1) Milpitas MLS Market Update
-27 pending sales
-new listings:
-564 Redwood Ave 4bd 3ba 1745sf lot size 6298sf $1,149,000
-1185 Burdett Wy 3bd 2ba 1020sf lot size 6018sf $999,000
-1852 Edsel Dr 3bd 2ba 1102sf lot size 6323sf $988,000
-203 Tiny St 3bd 2ba 1122sf lot size 6067sf $948,888
-Open House Sat/Sun 6/09 & 6/10 1pm-4pm
309 Norwich Ave, Milpitas $1,098,888
-Coming Soon-Milpitas
1117 Nicklaus Ave 4bd 2 1/2ba 2351sf lot size 7164sf $1,298,888
2191 Seacliff Dr 4bd 3ba 2500sf lot size 6000sf $1,488,888
167 Lawton Dr 4bd 3ba 1900sf lot size 6300sf $988,888
1845 Blue Spruce Ct 3bd 2ba 1215 sf lot size 3171sf- TBD
-Currently listed- Milpitas
1601 Yellowstone Ave 4bd 2ba 1737sf lot size 5608sf $1,298,888
offers due Thursday at 12pm
676-678 N Abel St duplex $1,398,888
-Open House Activity- 1601 Yellowstone Ave, Sat/Sun 5/19 & 5/20
Over 65+ groups through open house….
2) Current Interest Rates
-4.75% 30 yr fixed conforming
-4.375% 15 yr fixed conforming
-4.875% 30 yr fixed jumbo
-4.37% 15 yr fixed jumbo
3) San Jose Mercury News Articles
-“Presale improvement, on a serious tip”- 5/20/18
-Here are a few additional pointers for sellers:
-Ask three real estate pros for guidance
-Determine neighborhood norms for your area
-Cancel projects that prove too expensive
-Slow the renovation process to avoid costly mistakes
-“Grant a down payment”- 5/20/18
-Online tools point the way to available assistance for buyers
Research by the non-profit Urban Institute finds hundreds of programs
run by states, localities and housing nonprofits around the country that
provide from $2,000-$30,000 grants to help eligible applicants with a
down payment…visit http://bit.ly/paymentmap
-“There’s more to homeownership than just the mortgage”-5/20/18
-The thought of moving from renting to buying can be almost
exhilarating…beware to added costs to ownership…
-Property insurance
-Higher utility costs
-Maintenance
-HOA dues
4) MUSD (Milpitas Unified School District)- Board Highlights- 5/08/18 meeting
-MUSD schools honor their volunteers of the year
-Trustees honor Milpitas Elementary Olympics volunteers and supporters
-Superintendent, Principals share Strategic Plan goal at Chamber of Commerce
-May 9th recognized as Day of the Teacher
For City of Milpitas updates….visit…..www.ci.milpitas.ca.gov